ON THE

MOVE-Citi hires from JP Morgan's private wealth unit

May 7 (Reuters) - Citi Private Bank said on Monday ithired a former JP Morgan Chase & Co veteran to join itswealth management business catering to clients in the legalsector in Chicago.

Michael Sak joined Citi on Thursday from JP Morgan, where heworked for more than a decade, most recently as a vice presidentin the firm's private wealth management group. He started hiscareer in the infrastructure and operations group at JP Morgan,eventually working his way into the wealth management business.

"He's an important addition," said Kerry Gibson, a regionalmanager who helped recruit Sak.

In his new role at Citi, Sak serves as a vice president andprivate banker for the company's law firm group.

"There are a lot of law firms that are headquartered inChicago," Gibson said. "It creates a tremendous opportunity."

Citi's legal group was started more than four decades agoand now has more than 200 private bankers and professionalsacross the United States and in the United Kingdom.

Gibson, who oversees offices spanning from California toIllinois, said he plans to make additional hires in the Chicagomarket as the firm builds out its presence in the region.